Millicom International Cellular SA to Issue Dividend of $0.75 (NASDAQ:TIGO)

Millicom International Cellular SA (NASDAQ:TIGO) declared a dividend on Wednesday, May 21st, NASDAQ Dividends reports. Shareholders of record on Tuesday, July 8th will be given a dividend of 0.75 per share by the technology company on Tuesday, July 15th. The ex-dividend date is Tuesday, July 8th.

Millicom International Cellular has a dividend payout ratio of 86.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Millicom International Cellular to earn $2.84 per share next year, which means the company may not be able to cover its $3.00 annual dividend with an expected future payout ratio of 105.6%.

Millicom International Cellular Stock Down 0.7%

Shares of NASDAQ TIGO opened at $37.86 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 1.65. The stock has a market cap of $6.52 billion, a P/E ratio of 18.20 and a beta of 1.06. The business’s fifty day simple moving average is $36.15 and its 200-day simple moving average is $30.65. Millicom International Cellular has a 12-month low of $23.61 and a 12-month high of $38.50.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings results on Thursday, May 8th. The technology company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.23. Millicom International Cellular had a return on equity of 10.02% and a net margin of 6.20%. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the firm earned $0.54 earnings per share. Millicom International Cellular’s quarterly revenue was down 7.6% on a year-over-year basis. As a group, equities analysts predict that Millicom International Cellular will post 1.91 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TIGO shares. UBS Group raised their price target on Millicom International Cellular from $31.50 to $39.50 and gave the stock a “buy” rating in a report on Friday, May 16th. Barclays decreased their price target on Millicom International Cellular from $310.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 3rd. JPMorgan Chase & Co. lifted their price objective on Millicom International Cellular from $41.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 27th. Scotiabank downgraded Millicom International Cellular from a “sector outperform” rating to a “sector perform” rating and set a $37.00 price target for the company. in a report on Tuesday, June 17th. Finally, Wall Street Zen downgraded Millicom International Cellular from a “strong-buy” rating to a “buy” rating in a report on Friday, May 30th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $38.08.

Institutional Investors Weigh In On Millicom International Cellular

Institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada increased its stake in shares of Millicom International Cellular by 48.1% in the first quarter. Royal Bank of Canada now owns 46,183 shares of the technology company’s stock valued at $1,398,000 after purchasing an additional 14,990 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Millicom International Cellular by 5.0% in the first quarter. AQR Capital Management LLC now owns 9,587 shares of the technology company’s stock valued at $290,000 after acquiring an additional 453 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Millicom International Cellular in the first quarter valued at approximately $2,188,000. Goldman Sachs Group Inc. bought a new position in shares of Millicom International Cellular in the first quarter valued at approximately $50,664,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in Millicom International Cellular during the first quarter worth approximately $8,504,000.

About Millicom International Cellular

Millicom International Cellular SA provides cable and mobile services in Latin America. It offers mobile services, including mobile data and voice, and short message services; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.